2) Suppose the state is trying to decide how many miles of ascenic river it should preserve. There a
2) Suppose the state is trying to decide how many miles of ascenic river it should preserve. There are 100 people in thecommunity, each of whom has an identical inverse demand functiongiven by P=10-1.0q, where q is the number of miles preserved and Pis the per-mile-price he or she is willing to pay for the q milesof preserved river. If the marginal cost of preservation is $500per mile, how many miles would be preserved in an efficientallocation? (2 points) . . .
Apr 10 2020 View more View Less
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